24 Dec '12, 10pm

200 New Propel Stations Planned For Next Two Years

200 New Propel Stations Planned For Next Two Years

Residents of California and Washington will have Propel stations closer at hand if all goes for the company’s expansion plans. Propel Fuels says it has closed on the initial phase of its Series D round of funding with $11 million in equity capital from existing investors Nth Power, Craton Equity Partners, and @Ventures as well as a new investor, Gentry Venture Partners. In addition, the company has secured $10 million in debt financing. Propel currently operates stations throughout California and Washington State with more than 200 stations planned for new and existing markets over the next two years. Propel says the new funding will allow the company to accelerate the build-out of its network of stations that aims to offer drivers the cleanest, most sustainable, domestically produced fuels on the market today. Propel currently operates a growing network of stations that p...

Full article: http://www.hybridcars.com/200-new-propel-stations-planned...

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